Saputo Ups Ante in Warrnambool
Saputo has increased its stake in Warrnambool Cheese and Butter Factory to more than 80%.
February 11/Toronto/Press Release -- Saputo has increased its stake in Warrnambool Cheese and Butter Factory to more than 80%, edging the Canadian dairy giant's takeover of the Victorian company closer to completion.
Saputo said it had received acceptances of 81.436% of Warrnambool shares.
Saputo, Australia's Bega Cheese and Murray Goulburn Co-operative were involved in a prolonged three-way tussle for control of Warrnambool.
However, the two Australian companies have agreed to sell their stakes in Warrnambool to Saputo.
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